GITNUX MARKETDATA REPORT 2024
Credit Card Payment Processing Time Statistics
The average credit card payment processing time is typically 1-3 business days, with some transactions taking longer depending on the processing bank and other factors.
In this post, we will explore various statistics related to credit card payment processing in the United States. From the number of credit cards in circulation to the average time it takes for payments to post, these data points shed light on the prevalent trends and challenges surrounding credit card transactions. Let’s dive into the world of credit card payments and understand the landscape better.
Statistic 1
"As of 2019, there were 803 million Credit Cards in circulation in the U.S."
Statistic 2
"Visa and Mastercard transactions typically take 24-48 hours to process."
Statistic 3
"Typically, it takes 2-3 business days for a payment to post to your credit card account."
Statistic 4
"71% of consumers have at least one credit card."
Statistic 5
"More than 1 in 3 Americans, or 86 million people, said they're afraid they'll max out their credit card when making a large purchase."
Statistic 6
"A total of 1.06 billion credit cards are in use in the United States."
Statistic 7
"The average age for a person's first credit card in the U.S is 20.8 years old."
Statistic 8
"70% of American consumers have a general purpose credit card."
Statistic 9
"Almost 60% of cardholders use their card for daily spending."
Statistic 10
"Americans owed more than $1 trillion in credit card debt in 2019, which was an all-time high."
Statistic 11
"25% of small business owners identified payment processing as a major challenge in 2020."
Statistic 12
"15-24 year olds have the lowest credit card ownership rate among U.S. residents at 52%."
Statistic 13
"83% of merchants accepted card payments as of 2020."
Statistic 14
"Payment processing time can vary between immediate and up to a few days depending on the credit card company and the method of payment."
Statistic 15
"About 2-3 days is the average processing time for most card payments in the U.S."
Jannik Lindner
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The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.